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Maintaining price stability: a proposal
Hetzel, Robert L. - In: Economic Review (1990) Mar, pp. 53-55
The Neal Resolution, now in Congress, would make price stability the dominant goal of monetary policy. The first of these two articles holds that policymakers’ discretion over the price level increases political conflict. Further, it argues that removing this discretion would restore the...
Persistent link: https://www.econbiz.de/10005063872
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A mandate for price stability
Hetzel, Robert L. - In: Economic Review (1990) Mar, pp. 45-53
The Neal Resolution, now in Congress, would make price stability the dominant goal of monetary policy. The first of these two articles holds that policymakers’ discretion over the price level increases political conflict. Further, it argues that removing this discretion would restore the...
Persistent link: https://www.econbiz.de/10005063983
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Price level versus inflation rate targets in an open economy with overlapping wage contracts
Hansen, Eric - Center for Pacific Basin Monetary and Economic Studies, … - 1996
The standard result in models of sticky prices is that an inflation rate target is better than a price level target at … economy that is characterized by flexible prices in one sector and sticky prices in another sector. An example is a highly … open economy that has flexible prices in the tradeable goods sector and sticky prices (due to Taylor-type overlapping wage …
Persistent link: https://www.econbiz.de/10005078409
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A primer on optimal monetary policy with staggered price-setting
Wolman, Alexander L. - In: Economic Quarterly (2001) Fall, pp. 27-52
Persistent link: https://www.econbiz.de/10005729229
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Zero inflation and the Friedman rule: a welfare comparison
Wolman, Alexander L. - In: Economic Quarterly (1997) Fall, pp. 1-21
Persistent link: https://www.econbiz.de/10005729251
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Jobs and prices
McElhattan, Rose - In: FRBSF Economic Letter (1974)
Persistent link: https://www.econbiz.de/10005707339
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The frequency of price adjustment and New Keynesian business cycle dynamics
Dennis, Richard - Federal Reserve Bank of San Francisco - 2006
, our results indicate that the share of firms that change prices each quarter is just over 60 percent, broadly in line with … gathering/processing costs, we find that most firms that change prices are rule-of-thumb price setters. Finally, compared to …
Persistent link: https://www.econbiz.de/10005712226
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Optimal monetary policy with staggered wage and price contracts
Erceg, Christopher J.; Henderson, Dale W.; Levin, Andrew T. - Federal Reserve Board (Board of Governors of the … - 1999
-optimal equilibrium that would occur under completely flexible wages and prices; that is, the model exhibits a tradeoff between … stabilizing the output gap, price inflation, and wage inflation. The Pareto optimum is attainable only if either wages or prices …
Persistent link: https://www.econbiz.de/10005712759
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A framework for the pursuit of price stability
McDonough, William J. - In: Economic Policy Review (1997) Aug, pp. 1-7
Based on remarks delivered before the Annual Financial Services of the New York Bankers Association on March 21, 1996, and the Economic Club of New York on October 2, 1996.
Persistent link: https://www.econbiz.de/10005712970
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Long-run labor market dynamics and short-run inflation
Campbell, Jeffrey R.; Rissman, Ellen R. - In: Economic Perspectives (1994) Mar, pp. 15-27
Persistent link: https://www.econbiz.de/10005713123